This article speaks about BRICS, the association which has demonstrated constructive cooperation on the basis of strategic interests of the five countries- Brazil, Russia, India, China and South Africain the field of international relations and global regulation. The author gives legal assessment to the future development of BRICS, its experience of a gradually emerging integration structure and the relation of economic practices of BRICS in interaction with other control mechanisms. The author touches upon the legal status of BRICS which was established to be conducive to the institutional framework for cooperation with international actors in multidisciplinary format. The article identifies the dominant centripetal tendencies of BRICS with special role of China and the presence of the centrifugal tendencies in its development with due account to the issues raised. Also, the author focuses on the strategic goals of the participating countries and the ways and means they propose to get them implemented, especially, in the long-term perspective.
BRICS, New Development Bank, the Global Forum, institutionalization, Chinese yuan.
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